Paraguay launches financial inclusion plan to boost savings and credit access

The Paraguayan government has unveiled a new National Financial Inclusion Strategy for 2026-2031, building upon a previous program from 2014-2018. This initiative focuses on boosting savings and improving access to credit, particularly for vulnerable populations such as those living in poverty and the elderly.

The strategy, named 'Estrategia Nacional de Inclusión Financiera 2026-2031 (ENIF)', seeks to provide financial education and formal financing options to Paraguayans in monetary poverty, who constituted 16% of the population or approximately 985,126 individuals in 2025, according to the National Statistics Institute (INE).

Furthermore, the plan aims to include and educate over 780,000 adults aged 60 and above, representing 8.8% of the national population. These individuals are particularly susceptible to fraud due to their limited understanding of digital banking systems, as noted by the National Committee for Financial Inclusion, which is responsible for the strategy's design and implementation.

The ENIF also prioritizes promoting credit access for Micro, Small, and Medium-sized Enterprises (MSMEs), which employ 70% of Paraguay's workforce but currently have only a 56% access rate to financing. The educational sector is also included in the plan's scope.

This updated strategy follows significant progress in financial inclusion, with access to financial services, primarily bank accounts, rising from just 29% of the population over 15 years old in 2013 to 79% in 2025, according to a March 2025 report by the Association of Banks of Paraguay (Asoban). While the committee did not specify a minimum inclusion target for this update, it detailed 39 prioritized actions across savings, financing, financial education, and investments.